RNS Number : 5559M
Electronic Data Processing PLC
30 January 2009
30 January 2009
Electronic Data Processing PLC ('Company' or 'EDP')
TENDER OFFER
Further to the Company's announcement released on 3 December 2008, the Board of EDP announces that the Company intends to use its surplus cash resources to buy-back a significant proportion of its issued share capital by way of a tender offer, subject to the posting of a circular to shareholders and shareholder approval. The buy-back will be at a share price of 50p per EDP ordinary share.
It is expected that the circular will be posted to EDP shareholders in the next few weeks giving details of the tender offer and convening an EGM.
In the Company's preliminary announcement of results for the year ended 30 September 2008 released on 5 December 2008, it stated that the Board of EDP had proposed that a final dividend of 2p per EDP ordinary share would be paid to shareholders on 6 April 2009. The proposed dividend will be paid to those shareholders on the register at the record date of 6 March 2009 and it is expected that the tender offer will be completed after this date and therefore shareholders who accept the tender offer will still receive this final dividend.
Enquiries
Julian Wassell (Chief Executive)
Electronic Data Processing PLC
Tel: 0114 2622007
John Stephan
BDO Stoy Hayward LLP (Financial Adviser to Electronic Data Processing PLC)
Tel: 0121 352 6200
Toby Mountford
Citigate Dewe Rogerson
020 7638 9571
07710 356611
This information is provided by RNS
The company news service from the London Stock Exchange
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